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Cryptocurrencies

Bitex, Bantotal team up for cross-border payments in LATAM

Wednesday 14 August 2019 | 11:02 AM CET

Bitcoin exchange Bitex has partnered with Uruguay-based financial software company Bantotal to expand it cross-border payments system on the Bitcoin blockchain to LATAM.

According to a report on 13 August 2019, the upshot of this partnership is that Bantotal’s clients will have access to Bitex’s exchange services via a marketplace that hosts traditional financial services in its BDevelopers program. This partnership will boost Bitex participation from within LATAM, as the report suggests that Bantotal provides services to over 60 financial institutions ranging across 14 countries.

Bitex will act as a middleman service for cross-border payments, and its role is to convert from fiat currency to BTC, and then back to fiat again in order to facilitate these cross-border transactions. The company similarly partnered with Argentina-based bank Argentinian Banco Masventas (BMV) back in May 2019 to allow its clients to conduct cross-border payments.

More: Link
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